Enter your crypto term below

Tag: Exchange

We are fast approaching 2019 and Bitcoin recently celebrated its 10th anniversary. Despite this, there are very few low-cost ways to buy Bitcoin and other cryptocurrencies. Let’s start by saying that for now, the best way is to purchase crypto from a trusted friend. They should be able to help you set up a suitable wallet and transfer the tokens at your agreed price.

If you don’t have a friend that’s clued up on crypto or they are looking to HODL their CDAs (Cryptographic Digital Assets) then what do you do?

Buy Bitcoin at an ATM

Buy Bitcoin with Paypal funds

Buy Crypto on Coinbase with a bank transfer or debit / credit card

Check out LocalBitcoins.com

We don’t recommend using ATM’s at this current time. They are convenient if you have one in your area, but the costs are worse than old school, fiat transactions. Hopefully in time the fees will come down but for us ATM’s are a last resort route to owning crypto. There are ways of buying Bitcoin with Paypal but the systems we have tested cost more than using an ATM. Around 20% in costs and unless you have no way of spending your Paypal funds its another route best avoided.

We have never used LocalBitcoins.comso we will leave our review of what they offer to a later article. Ultimately most owners of crypto are going to use an exchange to trade between the thousands of different tokens. There are hundreds of exchanges, ranging from low volume niche markets to multi-billion dollar global enterprises.

Coinbase Exchange

One very well known exchange is Coinbase and it’s one we recommend to people new to the blockchain. Coinbase can be used from a PC or a smartphone but we prefer the Trust wallet for mobile use. This URL is a referral link and anyone purchasing a $100 or more of cryptocurrencies will receive an extra $10 from Coinbase. The referral link also helps us to fund this site. The exchange accepts funds via bank transfers and credit / debit cards but many credit card providers block purchases of CDAs. In Europe, a SEPA transfer to their nominated account costs just €3 and takes 2 or 3 working days.

Once your funds have been credited to your Coinbase account you should purchase a token such as Ethereum Classic (ETC) and then transfer the tokens to your Trust Wallet. Trust wallet is about to add Bitcoin support to their iOS and Android wallet but for now our suggestion is to buy ETC on the exchange. Once you have transferred the ETC to your Trust wallet your smartphone should show something like the image at the top of this article. Costs for using Coinbase in Europe, excluding the UK, are quite reasonable:

Costs of using Coinbase are broadly similar across the globe but some countries, like Australia, Canada and Singapore don’t have the bank transfer account funding option. Funding your account from a UK bank account is free and withdrawals cost £1. Trust wallet is preferred to the Coinbase wallet as it accomodates all the major blockchains including Ethereum, Tron, ICON, Wanchain and Callisto etc. We will publish a follow-up article on some of the major exchanges but for this exercise, we just used Coinbase as an easy route to your first CDA purchase.

Recent Articles

ICON Project Do we think a failing blockchain like the ICON project can be turned around? Yes, it’s never too late to change course and steer away from the rocks. Would we recommend software developers use the ICON blockchain? No, at this present time […]

Those of you that follow us on Twitter or Telegram may already know how to spot a failing ICO but we were asked to add the details here and in the general Cryptocurrency sub Reddit. It’s widely accepted that most altcoins will ultimately fail. Some ICOs […]

P-REP candidates have been canvassing ICONists to stake their ICX with effect from 26 August 2019. We have spent hundreds of hours over the last few months reviewing P-REP candidates. As per our earlier articles the blockchain ecosystem is riddled with bad […]

A guest post by a blockchain evangelist on the BLOC8 team about the ongoing ICON TX Challenge. The blockchain ecosystem is awash with scams and bad actors. ICO exit scams, hackers, pump and dump schemes and shilling by heavy bag holders etc. If you are ever […]

Tether and Bitfinex have submitted their defense against the claims of fraud made by NY Attorney General, Letitia James. Stuart Hoegner has submitted an affidavit and Zoe Phillips a Memorandum of Law. In this post we will review the assertions offered by the […]

We are fast approaching 2019 and Bitcoin recently celebrated its 10th anniversary. Despite this, there are very few low-cost ways to buy Bitcoin and other cryptocurrencies. Let’s start by saying that for now, the best way is to purchase crypto from a […]

We have previously covered the Trust and Saturn cryptocurrency wallets for handling BitUnits, but this article will cover the Eclair lightning network wallet. Watch how the Eclair wallet is used at Brisbane airport to buy a coffee in the video below. More and […]

Today we are going to cover the Ethereum ETC faucet. To be able to move BitUnits from one address on the Ethereum Classic network you will require a tiny amount of ETC. The is equivalent to “gas” used on the Ethereum network. Many owners on […]

Access to cryptocurrency tokens, like BitUnits, on the Ethereum Classic (ETC) blockchain, is made available with public and private key cryptography. As the name suggests the public key can be made available to anyone as it works as a pair with the private […]

The Trust digital wallet allows you to control access to digital assets like BitUnits and Ether but do beware that the tokens are stored on the blockchain, not on your smartphone. BitUnits are ERC223 compliant tokens which use the Ethereum Classic (ETC) […]

Before you set off to transfer BitUnits to a DEX to cash out understand that optimum returns for most investments require they are held over the longer term. HODL your crypto tokens and this applies to BitUnits. You should be looking at keeping hold of the […]

In a previous article we covered the news of the first day listing of BitUnits on the Saturn network DEX, and in this article, we will look at the mechanics of how to buy BitUnits. Essentially there are four different types of trade available on the DEX: […]

Earlier today the BitUnits cryptocurrency token began trading on the Saturn network decentralized exchange (DEX). Trading is performed directly between the DEX and the Saturn proprietary digital token controller (SPDTC or more commonly known as a digital […]